Retailers ERAA, MAPI, and HERO Shift to Efficiency Over Expansion Amid Weak Purchasing Power

JAKARTA — A slowdown in household consumption is prompting publicly listed retail companies to hold back on expansion in the second half of 2026. Amid purchasing power pressures that have yet to fully recover, firms are relying more on efficiency and the productivity of existing outlets rather than aggressive expansion. Several retail issuers, including PT Erajaya Swasembada Tbk. (ERAA), PT Mitra Adiperkasa Tbk. (MAPI), and PT DFI Retail Nusantara Tbk. (HERO), are being more selective in their investments to sustain growth.